Real Estate In Mumbai

Mumbai has been and remains to be the commercial capital of India and therefore owning a property in Mumbai happens to be a status symbol. However, the slump in the real estate and property sector across India has cast its shadow on Mumbai as well. The exorbitant residential real estate costs are mainly driven by paucity of land parcels, development of satellite towns of Navi Mumbai and Thane, shifting of industrial basis due higher land costs to these smaller towns, have all contributed to the present downtrend of real estate in Mumbai. The real estate market in Mumbai?s lutyens has seen a correction of up to 20%, and this is likely to continue for at least the current financial year.